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LG Chem and SFC enter into alliance for the commercialization of direct methanol fuel cell systems f


Brunnthal, Germany, and Seoul, Korea, January 9, 2006 - In September 2005, LG Chem announced the development of its best-in-class methanol powered micro fuel cell system as independent power supply for notebooks. Now, LG Chem is accelerating the commercialization of innovative fuel cells for consumer electronics through collaboration with fuel cell pioneer SFC Smart Fuel Cell AG, based on SFC’s strong IP position and their proven track record in a number of existing markets. LG Chem and SFC will join forces to advance the existing, world-leading DMFC technology platform for mobile applications. The collaboration will focus on further miniaturization, reliability, and cost reduction, as well as communications and compatibility with electronic devices. SFC will allocate their proven engineering expertise to solidifying the core technology platform for stack and system architecture. By sharing workload and expertise, the two companies expect to powerfully advance the DMFC commercialization process towards commercially available DMFC products for mobile applications.

Dr. Won-Ho Lee, Vice President of LG Chem explains: “We are extremely pleased to expand our partnership with SFC. Their proven track record in fuel cell entry markets and their engineering and miniaturization expertise make them an ideal partner for LG Chem as we are venturing into new fuel cell markets. I am sure that together we will create a great product with an absolutely unique customer benefit for consumer electronic users worldwide. Dr. Jens Mueller, Managing Director of SFC adds: “We are looking forward to extending our collaboration with LG Chem. LG Chem has a great brand value and excellent track record in launching breakthrough products and technologies in consumer electronics. SFC has already successfully introduced fuel cells into a variety of markets; one of our products even became the world’s first fuel cell to be fitted as standard in a vehicle where it provides onboard electricity. We are confident that, together with LG Chem, we will make the same market success happen for consumer electronics.”

Under their new collaboration agreement, LG Chem and SFC will join forces towards bringing fuel cell power for portable electronic devices to everyday people. All commercially relevant aspects of the technology will be covered in this relationship. Dr. Won-Ho Lee summarizes: “We believe that fuel cell technology will move far beyond the R&D stage with SFC. We are sure that our alliance is an excellent strategic fit for both partners and will accelerate the commercialization of micro fuel cell systems.”

About LG Chem:
LG group is a Korean conglomerate founded on 1947, and has 36 subsidiaries. LG Chem is its mother company and has revenue of 8.8 billion USD as of 2004. LG Chem is a vertically integrated chemical company that manufactures a wide range of products from petrochemical goods to high-value added plastics, and high performance industrial materials. It also expands its chemical expertise to high-tech materials for electronics such as rechargeable batteries and TFT-LCD display materials. LG Chem's business is comprised of three major areas: chemicals and polymers, industrial materials, and information & electronic materials. It conducts global management through its manufacturing affiliates, research centers, and marketing branches in major countries around the world. With a global workforce of 10,000 employees, LG Chem plans to realize positive progress towards sustainable growth by consolidating its leadership position in the domestic market as well as by building leader businesses outside of Korea.

About SFC:
SFC (www.smartfuelcell.com) is the market leader in fuel cell technologies for portable off-grid power applications serving the leisure, industrial and military markets. As one of Germany’s most successful technology pioneers, SFC has won numerous innovation awards. SFC has alliances with leading companies in a number of indust


Publisher Contact Information:

SFC Smart Fuel Cell AG
+49 89 607 454-79
schramm@smartfuelcell.de

Company profile of SFC Smart Fuel Cell AG
Past press releases of SFC Smart Fuel Cell AG.

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